Nigerian Banks Boost Marketing Spend to N76.54bn in Q1 2026

In the first quarter of 2026, Nigeria’s deposit money banks raised their marketing expenditures by 5.35% to N76.54bn, compared to N72.65bn in the same period of 2025, marking an increase of N3.89bn year-on-year. The average marketing spend per bank rose to N6.96bn from N6.60bn.

United Bank for Africa recorded the highest marketing expenditure at N15.68bn, a significant increase of 177.69% from N5.65bn in Q1 2025. Fidelity Bank spent N26.19bn, down 3.86% from N27.24bn, while First HoldCo's expenditure decreased by 29.07% to N13.58bn.

Zenith Bank increased its spending by 28.72% to N6.15bn, and Access Holdings spent N4.14bn, down 6.25%. Jaiz Bank saw the highest percentage growth in marketing expenditure, increasing by 1,623.60% to N529.49m.

The Central Bank of Nigeria had recently tightened regulations on bank advertising, emphasizing the need for factual and transparent marketing practices.